More rich LGUs since Local Gov't Code took effect
By Miriam Grace A. Go
More local government units (LGUs) have grown rich since they were given powers to collect local taxes and fees and receive regular subsidies from the national government under the Local Government Code. Based on the income classifications set by the finance department since the Code took effect in 1992, an increasing number of provinces, cities, and municipalities fall under the first- to third-class brackets. These are LGUs whose annual incomes afford them big-ticket undertakings almost independently, and require them less subsidies from the national government and other funding institutions.
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